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Identifying the Five Types of Economic Utility

Authored by Mary Janssen

Business

10th Grade

Used 1+ times

Identifying the Five Types of Economic Utility
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A furniture company assembles wooden planks, nails, and fabric to create a comfortable sofa for customers to purchase. Type of Utility: _________

Form Utility

Time Utility

Place Utility

Possession Utility

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A retail store stays open 24 hours a day to allow customers to shop whenever it is convenient for them.

Time Utility

Place Utility

Form Utility

Possession Utility

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A farmer harvests fresh strawberries and transports them to a grocery store in the city where they are sold to customers.

Place Utility

Time Utility

Form Utility

Possession Utility

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A car dealership offers financing options to customers so they can purchase a car without paying the full price upfront.

time

place

possession

information

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tech company provides detailed product descriptions and customer reviews on its website to help buyers make informed decisions. Type of Utility: _________

information

place

possession

forn

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A smartphone company offers trade-in deals, allowing customers to exchange their old phones for credit toward a new one.

possession

informationa

place

form

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A gas station is strategically built near a busy highway to make it convenient for travelers to refuel their cars. Type of Utility: __________

place

possession

information

form

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